#auslaw issues

[randombusinessoflawthoughts]

REPORT: Dynamic Law Firms consistently invest more in Business Development than Static Law Firms

The numbers have been crunched and the results are in: ‘Dynamic Law Firms’ invest considerably more in their business development and marketing activities/departments than static firms are willing to do. According to the latest (8th) iteration of Thomson Reuters Institute’s 2023 Dynamic Law Firms Report, Dynamic Law Firms consistently invest greater sums in their business development and…

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[randombusinessoflawthoughts]

'Customer service' vs 'Customer experience'

Ever wondered if there is a difference between ‘customer service’ and ‘customer experience’? I was fortunate enough to come across this quote by Paul Roberts, CEO at My Customer Lens that, frankly, sums it up better than anyone else I have seen lately: “It’s important to define the difference between customer service and customer experience. I like to define customer service as what you do, and…

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[randombusinessoflawthoughts]

Some initial thoughts on the Eversheds Sutherland and King Wood Mallesons 'exclusive alliance'

Woke up this morning – Australia time – to news that had broken overnight that Eversheds Sutherland (ES) and King Wood Mallesons (KWM) had entered into an exclusive alliance, along with a whole lot of DMs (Direct Messages) in my LinkedIn box asked me what my initial thoughts were. So here I go with some initial, off the cuff, thoughts about this: With the closure of the 6 KWM offices across the…

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[randombusinessoflawthoughts]

Happy New Financial Year!

Happy New Financial Year to all in #Auslaw. It’s that strange time of the year when we start all over again as if the previous 12 months didn’t happen. Only it is not quite as simple as that. From today: most lawyers will be charging clients 10% or more extra for their services, with little or no explanation about where the extra value is being delivered and with the new fee rate being…

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[randombusinessoflawthoughts]

Mid-year review of the Australian Legal Market

Thomson Reuters recently (27 February 2023) published its 2 page Mid-year review of the Australian Legal Market. As usual, the Report is a very interesting read; but by far the two standouts for me were: Expense Growth Notice that rise in Direct Expenses? That’s down to the pay rises you just gave to your 2 to 6 year PQE lawyers who are now sitting around very under utilised! Where will…

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[randombusinessoflawthoughts]

'More with less' not 'More for less'

Back on deck this week after close to 6 weeks off work (not too uncommon for us here in Australia where January is like July in France!). While catching up on my emails I came across this classic by Tom Fishburne. Yet again Tom hits a home run and I suspect many of us will be feeling this pressure over the next 11 to 12 months! As usual comments are my own. And I hope everyone has a great…

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